In light of The New York Times story this past weekend on price gouging in the drug industry (who could have ever guessed?), hedge fund manager and drug industry investor Martin Shkreli tried to do damage control on TV for raising the price on a drug his company makes for $1 from $18 a pill to $750 per pill. The drug, which is used to help pregnant women and HIV patients with parasitic infections, was developed 62 years ago so it was hard for Shkreli to argue they were trying to recoup investment costs, but he nonetheless claimed the pill was still a bargain.
And caviar might be a bargain at $70 an ounce, but you aren't going to see too many everyday Americans spreading it on their Ritz crackers....
After much blowback from ordinary Americans (and Hillary Clinton vowing to take on the drug industry which caused Big Pharma stocks to drop), Shkreli said he would reduce the price, though he didn/t say to what price. Make no mistake, though, about the bigger picture: folks like Shkreli will not be happy until they have all of our money.
And don't be surprised when they start fiddling with the price of our food next.
Peace,
emaycee
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